In the present e-auction, the sale of rice has increased to 13164 MT from 3300 MT that was sold in the previous e-auction
As a part of Govt of India’s initiative for market intervention to control the retail price of rice, wheat and atta, weekly e-auctions of both wheat and rice are organised. The 26th e-auction was held wherein 4 LMT wheat and 1.93 LMT rice were offered. In the e-auction, 3.46 LMT wheat and 13164 MT rice were sold at a weighted average of Rs 2178.24/Qtl for wheat and Rs. 2905.40/Qtl for rice.
Further, w.e.f. the e-auction, only 50 MT wheat is being allowed for bidders having LT electricity connection and 250 MT wheat for those having HT electricity connection. This step has been taken to prevent the hoarding of stocks and to ensure that the wheat sold under OMSS (D) is being processed and released in the open market by the successful bidder.
In addition to the above, the minimum and maximum quantity of rice that a bidder can bid has been fixed to 1 MT and 2000 MT respectively w.e.f. e-auction. The bidders can bid in multiples of 1 MT i.r.o. rice under OMSS (D). This step has been taken to enhance the sale of rice under OMSS (D) and in the present e-auction, the sale of rice has increased to 13164 MT from 3300 MT that was sold in the previous e-auction.